New Delhi, Oct 7 (NationPress) India’s overall exports of goods and services have risen by 5.19 percent to $346.10 billion during April-August 2025, up from $329.03 billion in the corresponding period last year, despite the global market uncertainties instigated by US tariff increases, as per an official announcement released on Tuesday.

Goods made up 53.09 percent of total exports, while services contributed 46.91 percent during this timeframe.

World Bank data indicates that the global export sector is expanding at 2.5 percent, while India’s exports are growing at an impressive 7.1 percent in 2024, thereby surpassing global growth rates and showcasing the country's advancements on the international stage.

The proportion of exports to India’s GDP has climbed from 19.8 percent in 2015 to 21.2 percent in 2024, further emphasizing the increasing significance of exports in India’s economy. The trend of growth in trade performance has also continued in the initial five months of FY 2025–26, as noted in the statement.

Recognizing this growth trajectory, the government has established an ambitious target of $1 trillion in exports for the current financial year 2025-26, of which 34.61 percent has already been accomplished in the first five months, according to the announcement.

India’s merchandise exports are steadily climbing in 2025, with a growth of 2.31 percent in April-August 2025, reaching $183.74 billion, compared to $179.60 billion during the same timeframe last year.

Exports of non-petroleum and non-gems and jewelry items surged by 7.76 percent, amounting to $146.70 billion in April-August 2025, up from $136.13 billion in the previous year. This category underscores India’s export strength, fueled by sectors like engineering goods, electronics, pharmaceuticals, and chemicals.

Leading the growth was the export of electronic goods, which increased by $5.51 billion, marking a remarkable 40.63 percent growth in April-August 2025 compared to the same period last year. Over the last decade, the production of electronic goods has surged six-fold, while their exports have increased eight-fold. Major markets for Indian electronic goods include the USA, UAE, China, Netherlands, and UK, driven by initiatives like Make in India and PLI schemes, as explained in the statement.

Smartphones have emerged as a key growth driver, with India evolving from a net importer to a net exporter. Smartphone exports have surpassed Rs 1 lakh crore within just five months of FY26, reflecting a 55 percent increase compared to the same period last fiscal.

Engineering goods, traditionally a cornerstone of India’s exports, also saw consistent gains, rising from $46.52 billion in April-August 2024 to $49.24 billion in April-August 2025, marking a 5.86 percent increase. The USA continues to be the top destination, along with UAE, Germany, UK, and Saudi Arabia. The Indian government has rolled out several initiatives to bolster the export of engineering goods, such as Zero Duty Export Promotion Capital Goods (EPCG) and Market Access Initiative (MAI), aimed at encouraging exporters and enhancing revenue from international markets.

Pharmaceuticals showed a growth of 7.3 percent, reaching $12.76 billion in April-August 2025, up from $11.89 billion in the previous year. India’s capacity to provide affordable generics and specialty drugs has maintained demand from both developed and emerging markets, with the US, UK, Brazil, France, and South Africa identified as the leading buyers.

The ready-made garments sector, known for its labor-intensive nature, continues to make a positive contribution, with exports increasing by 5.78 percent to $6.77 billion during April-August 2025 compared to last year. Demand remains robust in traditional markets, led by the US, UK, UAE, Germany, Netherlands, and Spain, reinforcing India’s strong foothold in global apparel supply chains.

Exports of other cereals have surged by 21.95 percent in April-August 2025 compared to the same period last year. This category includes Rye, Barley, Oats, Fonio, Quinoa, etc., excluding Wheat, Rice, Maize, and Millet. Major export destinations include Nepal, Sri Lanka, UAE, Bangladesh, and Bhutan.

Meat, dairy, and poultry products experienced a 20.29 percent growth in April-August 2025 versus the previous year, with exports directed to Vietnam, UAE, Egypt, Malaysia, and Saudi Arabia.

Tea exports saw an impressive growth of 18.2 percent in April-August 2025 compared to last year, with the UAE, Iraq, US, Russian Federation, and Iran emerging as top markets.

India’s strategic trade relationships reflect its expanding role in the global economy, with merchandise exports progressively increasing across various countries in the first five months of the current financial year, the statement concluded.